Asia: Tyre Market 2024

Tyre Market Size in Asia

The Asian tyre market was finally on the rise to reach $X in 2022, after two years of decline. Overall, consumption, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the market value increased by X% against the previous year. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Tyre Production in Asia

In value terms, tyre production shrank modestly to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

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Tyre Exports

Exports in Asia

Tyre exports declined to X units in 2022, therefore, remained relatively stable against the year before. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of X units, and then reduced modestly in the following year.

In value terms, tyre exports expanded sharply to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Exports by Country

China represented the key exporter of tyres in Asia, with the volume of exports resulting at X units, which was near X% of total exports in 2022. Thailand (X units) took the second position in the ranking, distantly followed by India (X units). All these countries together took near X% share of total exports. Indonesia (X units), Japan (X units), South Korea (X units), Vietnam (X units), Taiwan (Chinese) (X units), Turkey (X units) and the United Arab Emirates (X units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%), Vietnam (X%), Turkey (X%), Thailand (X%) and India (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. By contrast, Indonesia (X%), Taiwan (Chinese) (X%), South Korea (X%) and Japan (X%) illustrated a downward trend over the same period. While the share of China (X p.p.), Thailand (X p.p.) and Vietnam (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Taiwan (Chinese) (X p.p.), Indonesia (X p.p.), South Korea (X p.p.) and Japan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest tyre supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by Thailand ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

In China, tyre exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (X% per year) and Japan (X% per year).

Export Prices by Country

The export price in Asia stood at $X per unit in 2022, rising by X% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per unit), while Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced more modest paces of growth.

Tyre Imports

Imports in Asia

In 2022, the amount of tyres imported in Asia fell modestly to X units, waning by X% against the year before. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. The volume of import peaked at X units in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, tyre imports expanded rapidly to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Malaysia (X units), the Philippines (X units), Japan (X units), Turkey (X units), the United Arab Emirates (X units), South Korea (X units), Taiwan (Chinese) (X units), China (X units), Iraq (X units), Thailand (X units), Uzbekistan (X units) and Cambodia (X units) was the major importer of tyres in Asia, comprising X% of total import. Vietnam (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Vietnam (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), the United Arab Emirates ($X) and Turkey ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports. South Korea, China, Malaysia, Vietnam, Taiwan (Chinese), Iraq, Thailand, the Philippines, Uzbekistan and Cambodia lagged somewhat behind, together comprising a further X%.

Uzbekistan, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per unit in 2022, with an increase of X% against the previous year. Overall, the import price, however, saw a noticeable decrease. The most prominent rate of growth was recorded in 2018 an increase of X%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Vietnam ($X per unit), while Cambodia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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